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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 17483
Experience:  B.A.; M.B.A.; J.D.
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To: Philipps, esq. Fact: Court has appointed a receiver to

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To: ***** *****
Fact: Court has appointed a receiver to operate LLC's business, receiver is in total control of managing LLC's business.
Q: During ongoing legal proceedings, can LLC sell a certain portion of share to some new member ?
Q: Does LLC needs receiver's consent or Court's approval ?

Hello: This is Phillipsesq. Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

Thank you for requesting for my assistance once more.

I am so sorry for the delay in getting back to you. I was offline when your request came in. Thank you for your patience.

Your Questions.

Q: During ongoing legal proceedings, can LLC sell a certain portion of share to some new member ?

Response 1: Yes, but with the approval of the Court appointed Receiver.

Q: Does LLC needs receiver's consent or Court's approval ?

Response 2: Yes. The LLC would need the Receiver's consent/approval. Then if the Receiver finds it proper to get Court approval before the sale is completed, then the Receiver will file Motion for the Court's Approval of the sale.

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